Marina Square redevelopment could push hotels to stand out, boost footfall at nearby malls: Experts
Neighbouring malls could benefit from displaced shoppers and tenants when Marina Square closes next year, but changes to connectivity and the inability to replicate some of its family-oriented offerings could see some spending move elsewhere.
As the Marina Square redevelopment progresses, hotels in the vicinity may need to distinguish themselves more to remain competitive, according to experts. Neighboring malls could potentially attract displaced shoppers and tenants, possibly leading to increased rent, although some spending may shift elsewhere. The mall is set to close on March 31, 2027, with the redevelopment scheduled to be finished by 2031.
Three new towers will be constructed, adding luxury homes, serviced apartments, offices, and a 304-room hotel. The three existing hotels at Marina Square—Pan Pacific Singapore, Parkroyal Collection Marina Bay, and Mandarin Oriental Singapore—will remain operational throughout the construction. Prof Lawrence Loh from the National University of Singapore Business School emphasized that existing hotels in the area will need to evaluate the new hotel's offerings and adapt their services accordingly.
Mandarin Oriental Singapore expressed support for the transformation and plans to enhance guest experiences by promoting cultural exploration. Pan Pacific Singapore and Parkroyal Collection Marina Bay intend to maintain their brand positioning, guest experiences, and service strengths. The closure of Marina Square may also impact shopping patterns, potentially benefiting malls like Suntec City, Millenia Walk, and CityLink Mall, which are easily accessible by public transport and have ample parking.
Neighboring malls could adjust their tenant mix or offerings to accommodate the displaced tenants from Marina Square, possibly leading to a rise in rents. However, the redevelopment's length might provide neighboring malls with sufficient time to adapt to the changing retail landscape. While local shoppers may find it relatively easy to switch malls, hotel guests could face challenges due to changes in connectivity during the redevelopment.
SingLand assured that measures will be implemented to minimize inconvenience to hotel guests during the construction period.
Written by urgent.news from CNA - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
